- August 17, 2021
- Posted by: adminer
- Category: Finance, Trade and Industry
The Abuja Chamber of Commerce and Industry (ACCI) has recommended that its proposed tax harmonisation legislation for Small and Medium Enterprises (SMEs) should be preceded by a Presidential Executive Order for compliance.
Dr Al-Mujtaba Abubakar, President of ACCI, gave this recommendation on Monday in Abuja at its First Abuja SMEs conference and exhibition 2021.
The conference has its theme as “Solution Strategies for Resolving Tax, Regulatory Packaging and Logistics Challenges Facing SMEs in Nigeria’’.
Abubakar recalled that as one of the foremost advocates for business in Nigeria, particularly in the SMEs space, ACCI had written to President Muhammadu Buhari on SMEs operator’s greatest hindrance.
He said the chamber proposed a legislation to harmonise taxation for SMEs, adding that its detailed submission also sought a Presidential Executive Order, collating current incentives for SMEs and issuing directive for due compliance.
“I want to re-emphasis and strongly recommend that tax harmonisation legislation should be preceded by a Presidential Executive Order. This will enforce compliance with pro-SMEs initiatives and interventions of the government,’’ he said.
He said the goal for the conference was to match problems with solutions alongside developing an implementation plan, adding that ACCI and her partners conceived the maiden event to solve repeated challenges facing Nigerian SMEs.
Abubakar, while commending the Federal Government for introducing many initiatives and interventions to develop the sector, particularly thanked Vice President Yemi Osinbajo for his passion to grow the SMEs sector.